Our business is to identify and develop natural resource assets. AmerAlia actively participates in the management and development of the natural sodium bicarbonate resources and water rights owned by its indirect subsidiaries, Natural Soda Holdings, Inc. (“NSHI”) and NSHI’s wholly-owned subsidiary Natural Soda, Inc. (“NSI”).
NSI owns various water rights in the Piceance Creek Basin in northwest Colorado, a part of the Colorado River drainage system. These various rights allow NSI to draw up to a maximum of 108,812 acre feet (35.46 million gallons) annually and to store up to 7,980 acre feet of water.
NSHI and NSI also own BLM leases in the Piceance Creek Basin covering very large deposits of naturally occurring sodium bicarbonate. NSI’s business is to produce and sell natural sodium bicarbonate, commonly known as baking soda, for use in a wide variety of products and activities. NSI’s immediate objectives are to profitably utilize its water assets and to be a low cost producer of sodium bicarbonate while leveraging that low cost advantage to achieve superior profit margins.
Deposits of oil shale lie below, above and are interspersed within the nahcolite contained within the sodium leases. NSHI and NSI plan to apply for a research, development and demonstration lease to access all or part of this oil shale pursuant to a new program announced by the U.S. Department of Interior in October 2009. Shell Frontier Oil & Gas Co. (“Shell”) has three research, development and demonstration leases adjacent to NSI’s sodium leases. Shell reports an estimated potential recovery rate of up to one million barrels of oil per surface acre. If we obtain the right to exploit all or part of this oil shale, we plan to independently determine possible recovery rates and attempt to develop an economically feasible plan to recover oil from the oil shale resource contained within the area where NSHI’s and NSI’s sodium leases are located.
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